If you’re considering buying Moderna stock, you may want to look at its recent earnings report. The company procured $4.7B in revenue during the 2Q of Fiscal 2022, up from $4.3B a year prior. This significant jump was largely due to higher product sales, particularly of its COVID vaccine.
Moderna is a growing biotech that leverages mRNA technology to make drugs and vaccines. The company has the potential to be a lucrative source of revenue in the coming years as more people are vaccinated against COVID. Additionally, Moderna’s pipeline includes a variety of vaccines for different conditions and rare diseases. Furthermore, the company is well-capitalized and has the ability to acquire other companies.
Moderna is currently trading at 2.6X cash. The company’s pipeline consists of multiple therapeutics and vaccines and has $21 billion in topline revenue. With $18 billion in cash on hand, Moderna is trading for an exceptionally cheap price. If you have a healthy portfolio, it might make sense to consider buying this stock.
Moderna stock has a breakout opportunity today after Merck announced a co-development agreement. The two companies will jointly develop a personalized cancer vaccine that helps create specialized killer cells targeted at specific tumor mutations. The company will also begin testing the vaccine in combination with Merck’s Keytruda drug.